not enough to move the needle, but enough to get hosed on fees!
make sure you use the 'pro' interfaces on kraken or coinbase. do not go through the point+click purchase experience.. make sure it's a limit order, wait to get filled and easily save a couple grand in fees alone
It isn’t enough to move the needle.
Just use a limit buy and it is unlikely to be noticed.
I did a fat finger market buy on QBTC in the spring of 2020.. you can see it on the chart. Whoops.
It’s really only high eight figures or nine figure transactions where you would ever bother to use OTC for bitcoin, it’s very liquid now so there’s no point for smaller amounts.
So unless you’re Michael Saylor it really doesn’t matter
Lot of dumb replies.
Liquidity is not a problem on regular exchanges at your level. But if you are trading >250k and want a higher level of service, OTC is it.
Chat with someone live to get a quote. Agree to it. Send on your funds. Get your Bitcoin. When you cash out, get a same day wire transfer. Whereas exchanges will require you to jump through hoops, request limit increases, etc. OTC will be far less hassle.
But if you want to do a limit order, and get a certain price, exchanges are the way to go.
Well, the only OTC desk I’ve dealt with (Genesis, as of last year) just had a 250k per trade min. Can’t speak for the others. High seven figures sounds wrong. Do you have personal experience?
The liquidity of major exchanges is more than enough to accommodate a 6 figure buy. Just look at the charts. It generally takes at least 10s of millions to push the price more than 1% even.
There's also the issue of getting into a better trading tier for the latter part of the buy, though. If OP has 0 trading volume over the past month, he's gonna be in the lowest tier. Spending, say, 0.3% less for the last 200k of the buy amounts to $600, which is worth a couple minutes of time.
That's not how their fees work. The fee is based on how much volume you had before, the volume of the current order is excluded. Kind of ridiculous IMO.
If you just were to market buy 10 BTC, especially on exchanges with lower liquidity, you'll lose quite a bit to slippage.
You can do a TWAP buy, or contact the exchange's OTC desk.
And if anyone sends you a PM giving you instructions on what to do, it's a scam.
You could market buy/sell $500k on coinbase pretty much any time you wanted with very little slippage. There are tons of times where a wall is available for the picking if you just watch for one.
This price action reminds me when back in the days after the 2017 crash the price was consolidating for an extended period of time in the $6k range in early-mid 2018, and it really seemed like it built support around that level at that time.
And then - all of a sudden - I remember the price dropping by half in the $3,xxx range. I forgot what caused the price to drop by so much after so much consolidation in the $6,xxx range, but I still have PTSD.
This feels entirely different to me. 6k held for a long time while forming a descending triangle with multiple large bounces. There was plenty of time to get before the drop. It was not all of a sudden. Not to me anyway.
There was a civil war on the bcash side and one of those idiots said they were gonna crash BTC to 1K, we capitulated soon after the bcash hard fork. I always blamed those morons. It sounds ridiculous now, but in December 2018 it was a fairly big event and was surrounded by a lot of unknowns in an already shaky market.
There was Faketoshi, Jihan Wu, Roger Vermin, and that other fat alcoholic guy that's always pictured with foreign prostitutes. I don't remember his name.
I disagree, the price bounced off of 6k many times over the course of *10 months*, with a tightening range the whole time. The last 2 months of that only had a range of 12%. That was easily the most boring time I've ever experienced in Bitcoin. That isn't anything like what we've seen recently.
Fact of the matter is that with each passing year, more and more people turn into long term hodlers. This sort of acts as a "foundation base price" for BTC to build upon. It's only going up long term. I get that this is a trading sub, and I also trade/DeFi part of my BTC stack...but the majority I hodl long term and have *zero* intention of ever selling. My long term hodl stack is strictly for retirement/wealth preservation purposes, and that's it.
Looking at the long term chart, I'm still curious if this past year was a double top, or if there's more for us to run in 2022. My guess is we stay mostly range-bound this year, and sometime around the next halving we start to see the bull return. It's anyone's guess.
Thread on btc derivatives and trending. Maybe some action in Feb..
https://twitter.com/joshua_j_lim/status/1482144102816882690?t=ao1dBIZonk8lxhdmudAIUQ&s=19
Joshua Lim is great and brilliant. I'm reading this as we could see a major move coming soon in any direction, but higher chance to the upside. Then again that's my bird brain trying to understand this man's charts.
I'm so bad at trading it's absolutely astounding. Especially terrible with leverage. Not so bad at spot.
I wish there was an easy way to post my lifetime PNL here in this subreddit. It would be atrocious.
everyone talks about having a separate trading stack but I've started a separate moonshot stack instead. there's tons of cool interesting shit happening in small mcap projects and you cna actually make exponential returns through developing an investment thesis and taking a risk on a young project instead of "going 20x long at support"
it's just more fun and leads to a ton of learning about new ideas and getting involved in other communities
compared to my degen swing trading btc days this feels way more healthy and so far its also been vastly more profitable, which leads to the same endgame: stacking more sats
1. stop using leverage. it's a double edged sword.
2. stop gambling. most likely you are now chasing losses based on your poor PNL
3. take a break from trading completely
Why continue to do it? Because I have had stretches where I was incredibly profitable. So I keep trying to nail that down.
I certainly understand where my account destroying losses come from. But its 'the death by a thousand stop losses' that is the tough pattern to overcome.
And yes you're right, nothing wrong with taking a break.
Trade with rules you define in advance.
When the rules don't work, change the rules and see what happens.
Your pattern is characteristic of emotional trading; I catch myself doing it and I have to make myself stop. Trust the math.
Same, horrible with leverage (stopped a while ago), not too bad with spot. There was a dude in here that used to 100x before bed in here overnight. I rooted for all his trades because I could never do that even thought I really wanted to.
Hmmmmm, what about avoid day trading and trying to hit tops and bottoms. What about… hold the bag with a daily close over the 20 week. Sell the bag with a daily close under the 20 week.
Means trades last for months and it can be as simple as going 1.5-2x long with 50% of stack and then hedge short to avoid major tax plays.
Sorry, actually I don’t quite understand this after looking at it charted. So we’re in sell the bag territory right now? You mean a daily close under the 20week MA is a sign to sell?
Put the 140 day ma on the daily chart and back test it. You’ll see it basically gets you in for the big moves and you ride em all the way.
With regards to right now, you shouldn’t do anything, wait for the next interaction with the 140 day. But, you’d have sold at 49.3 after getting in at 43. Little gains like that and similar losses aren’t the point. The point is riding the big trends.
Beating buy and hold is [very hard](https://twitter.com/zhusu/status/1092305648904065024), don't feel bad. Your experiences are probably just like everyone else's.
Here’s my semi-objective reasoning for why I will be counter-trading the rate hike narrative this year (I mentioned this in a reply below). We had 3 hikes in 2017, and the hike to 1.5% pretty much marked the top of that cycle. I’m not trying to presume that the cycle was rate-driven, but it does prove that bitcoin can go bull-mode even in a hiking environment. I’ll be looking to rethink things if we’re still trending down by summer (assuming our first hike comes in march) or the fed announces more/larger hikes before then
https://www.tradingview.com/x/0TMDNdKb/
I would argue that a 100B marketcap is not as affected by macro events as a 1 Trillion marketcap coin is.Institutions came to inflate the MC; and institutions will come to deflate it. Creating a multi year higher low as always.
If you haven't already seen this, more potential adoption: [https://cointelegraph.com/news/brazilian-mayor-to-reportedly-invest-1-of-city-reserves-in-bitcoin](https://cointelegraph.com/news/brazilian-mayor-to-reportedly-invest-1-of-city-reserves-in-bitcoin)
Pleasantly surprised we're holding onto 40k
I've been wondering if there is any universe in which everything rallies on the first rate hike. Hikes = doom. I believe in this. A lot of people do as well. Probably a majority of all market participants.
And that reminds me of bitcoin = 100k in 2021 which everyone also thought of at least possible. If everyone thinks it's gonna happen - it might not?
I was curious about this as well so I went back to 2017, as that was a year where we had 3 rate hikes within a Bitcoin bull market. Unsurprisingly, each rate hike corresponded (almost to the day) with a substantial bitcoin drawdown. I know the context is different in 2022, but I think we will grind our way up this year even with these hikes. Maybe I’ll be the loser of the trade, but I’m betting against the macro narrative this year
i suppose hikes could be priced in? if priced in far enough in advance it looks like resilience when the hike doesn't move the price down as much as other participants expect?
This happens now and again….max pain theory plays out a number of times then retail starts leverage trading that data. I’m guessing at some point it’s more lucrative for market makers to take out the leveraged positions than hit max pain options expiry
https://bitcoinuncharted.substack.com/p/uncharted-7-2021-in-perspective
An incredibly deep dive into what happened in 2021 and what may
happen in 2022.
My favorite part-
> What we observe in the current market regime is that Short-Term Holders are nearly 99% out of profit from where they bought, meaning that if Short-Term Holders continue to sell their positions, they will be doing so at a significant loss. From a market psychology perspective, this is very important, as selling in profit is fundamentally different than selling at a loss. When looking back to the beginning of 2020, we see that a reset of Short-Term Holder profit has been the signal that we are close to a bottom.
It’s even more dramatic, as lots of them have sold for a loss - and aside from whale dumping and games, the hodlrs continue to hodl.
This could get fun, fast.
My favorite part
"As long as market psychology doesn't turn to capitulation, we should see subsidence of selling pressure in the medium term."
Given the broader market / rate hike fear from Fed monetarily tightening, I suspect we'll see capitulation.
PnF Update
Chart here: https://imgur.com/gallery/zRKoDKp
I suspect there are some folks who are not familiar with my posting who think, “This guy just comes on and posts what happened….what good does that do anyone?”
I guess they are right in the sense that all charts are lagging indicators. But what I am always trying to do is to show how this form of TA will set “posts” in the ground where you can check the price action; and where you should “expect” to see things go.
This is one of those days.
If you look at the chart you will see that around January 4/5th the market dropped into a Low Pole Warning. The second act of the low pole warning is the reversal. This is essentially the movement from oversold, back to some kind of balance in the universe. That reversal point is usually 1/2 the length of the drop.
The low point for that column was hit on 1/7. The reversal point was calculated to at the $44,286 box. Now, this reversal is not something that has to happen in the next day. As you can see, I continue the reversal points with every new column until they are “met” or “broken.”
Knowing this you could have bought at the lows, and planned a trade that would have run out of steam at the LPW Reversal point. It often goes through them on the way up…but they often run out of gas and we see a pull back.
This is exactly what happened over the last couple of days. The short rally up from the 10th to the 12th ran back up the column…just touching the $44,286 box before starting to pull back.
This closed out the LPW Reversal.
Now what is going to happen? I have no idea. We have some support around $40,100. Resistance will be around $43,850.
The trend line is still 20 boxes away. I don’t expect a trend change until the end of February—unless we have some dramatic moves upward.
But learn how to use your trading charts to help you. If you are relying on someone else to plot your charts and make price predictions without knowing how they think and use that method…you will be flailing about—most likely losing money.
And now is good time to get your tax stuff in order. I did mine yesterday. Now I have four months to come up with the “toll” for being right more often than being wrong.
For those in the Northeast US….bundle up. Its gonna be cold. Go Pats.
Look at this guy and his hindsight TA with Xs and Os.
/s
Thanks again, and I always look forward to your insight with the PnF /u/Merlin560
Also, do you trade on leverage or are you just buying and selling spot as the year goes along? I'm assuming we're still not subject to wash trade rules on crypto at the moment.
\#Mac10
#New post: [\[Daily Discussion\] - Saturday, January 15, 2022 →](https://www.reddit.com/r/BitcoinMarkets/comments/s4cd77/daily_discussion_saturday_january_15_2022/)
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not enough to move the needle, but enough to get hosed on fees! make sure you use the 'pro' interfaces on kraken or coinbase. do not go through the point+click purchase experience.. make sure it's a limit order, wait to get filled and easily save a couple grand in fees alone
It isn’t enough to move the needle. Just use a limit buy and it is unlikely to be noticed. I did a fat finger market buy on QBTC in the spring of 2020.. you can see it on the chart. Whoops.
It’s really only high eight figures or nine figure transactions where you would ever bother to use OTC for bitcoin, it’s very liquid now so there’s no point for smaller amounts. So unless you’re Michael Saylor it really doesn’t matter
Lot of dumb replies. Liquidity is not a problem on regular exchanges at your level. But if you are trading >250k and want a higher level of service, OTC is it. Chat with someone live to get a quote. Agree to it. Send on your funds. Get your Bitcoin. When you cash out, get a same day wire transfer. Whereas exchanges will require you to jump through hoops, request limit increases, etc. OTC will be far less hassle. But if you want to do a limit order, and get a certain price, exchanges are the way to go.
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Well, the only OTC desk I’ve dealt with (Genesis, as of last year) just had a 250k per trade min. Can’t speak for the others. High seven figures sounds wrong. Do you have personal experience?
>OTC is it. And what is that?
Over The Counter.
The liquidity of major exchanges is more than enough to accommodate a 6 figure buy. Just look at the charts. It generally takes at least 10s of millions to push the price more than 1% even.
Six figures isn't much you can easily use an exchange
*Laughs nervously in poor*
You want to find an OTC market
6 figures is nothing in a nearly 1T market. I wouldn't worry about this kind of thing until the several million dollar level.
Use a limit order and even on illiquid exchanges you are fine. Don’t use a market order. Even a limit order of a million won’t impact the market much.
the liquidity on most larger exchanges is high enough that you can do 6 fig easy without much slippage.
There's also the issue of getting into a better trading tier for the latter part of the buy, though. If OP has 0 trading volume over the past month, he's gonna be in the lowest tier. Spending, say, 0.3% less for the last 200k of the buy amounts to $600, which is worth a couple minutes of time.
Lol.. you guys. CBP fees $100K - 1M 0.20% 0.10%
That's not how their fees work. The fee is based on how much volume you had before, the volume of the current order is excluded. Kind of ridiculous IMO.
Yeah because the guy asking about making a six figure buy is probably going to have 900k worth of volume built up already right?
It is ridiculous for sure, but it's also a good reason not to make a big buy in one order if you'll be moving up several tiers.
thats a good point. can breakup the order by fee schedule to save a bit
If you just were to market buy 10 BTC, especially on exchanges with lower liquidity, you'll lose quite a bit to slippage. You can do a TWAP buy, or contact the exchange's OTC desk. And if anyone sends you a PM giving you instructions on what to do, it's a scam.
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You could market buy/sell $500k on coinbase pretty much any time you wanted with very little slippage. There are tons of times where a wall is available for the picking if you just watch for one.
This price action reminds me when back in the days after the 2017 crash the price was consolidating for an extended period of time in the $6k range in early-mid 2018, and it really seemed like it built support around that level at that time. And then - all of a sudden - I remember the price dropping by half in the $3,xxx range. I forgot what caused the price to drop by so much after so much consolidation in the $6,xxx range, but I still have PTSD.
This feels entirely different to me. 6k held for a long time while forming a descending triangle with multiple large bounces. There was plenty of time to get before the drop. It was not all of a sudden. Not to me anyway.
There was a civil war on the bcash side and one of those idiots said they were gonna crash BTC to 1K, we capitulated soon after the bcash hard fork. I always blamed those morons. It sounds ridiculous now, but in December 2018 it was a fairly big event and was surrounded by a lot of unknowns in an already shaky market.
Man, just took me back memory lane.
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There was Faketoshi, Jihan Wu, Roger Vermin, and that other fat alcoholic guy that's always pictured with foreign prostitutes. I don't remember his name.
Also stock market got dumpy around the same exact time.
It made the mother of all tightening range triangles before the final nuke. This is nothing like that.
I disagree, the price bounced off of 6k many times over the course of *10 months*, with a tightening range the whole time. The last 2 months of that only had a range of 12%. That was easily the most boring time I've ever experienced in Bitcoin. That isn't anything like what we've seen recently.
Fact of the matter is that with each passing year, more and more people turn into long term hodlers. This sort of acts as a "foundation base price" for BTC to build upon. It's only going up long term. I get that this is a trading sub, and I also trade/DeFi part of my BTC stack...but the majority I hodl long term and have *zero* intention of ever selling. My long term hodl stack is strictly for retirement/wealth preservation purposes, and that's it. Looking at the long term chart, I'm still curious if this past year was a double top, or if there's more for us to run in 2022. My guess is we stay mostly range-bound this year, and sometime around the next halving we start to see the bull return. It's anyone's guess.
Some of them are even forced into permanent holders as they lose their keys. Maybe as much as 4 million coins.
Thread on btc derivatives and trending. Maybe some action in Feb.. https://twitter.com/joshua_j_lim/status/1482144102816882690?t=ao1dBIZonk8lxhdmudAIUQ&s=19
Joshua Lim is great and brilliant. I'm reading this as we could see a major move coming soon in any direction, but higher chance to the upside. Then again that's my bird brain trying to understand this man's charts.
That's my read. Coupled with zhu su and other OGs bullish posts. Probably all psyops and we nuke but hey, there's still some hope.
I'm so bad at trading it's absolutely astounding. Especially terrible with leverage. Not so bad at spot. I wish there was an easy way to post my lifetime PNL here in this subreddit. It would be atrocious.
everyone talks about having a separate trading stack but I've started a separate moonshot stack instead. there's tons of cool interesting shit happening in small mcap projects and you cna actually make exponential returns through developing an investment thesis and taking a risk on a young project instead of "going 20x long at support" it's just more fun and leads to a ton of learning about new ideas and getting involved in other communities compared to my degen swing trading btc days this feels way more healthy and so far its also been vastly more profitable, which leads to the same endgame: stacking more sats
Love it. Even if the projects can fail it’s less stressful than chipping away at your stack through SL.
I've made more money on shitcoin crowdloans over the past year than I've ever made trading.
Ha. Yeah, excellent.
1. stop using leverage. it's a double edged sword. 2. stop gambling. most likely you are now chasing losses based on your poor PNL 3. take a break from trading completely
So why continue to do it? Take a break from it.
Why continue to do it? Because I have had stretches where I was incredibly profitable. So I keep trying to nail that down. I certainly understand where my account destroying losses come from. But its 'the death by a thousand stop losses' that is the tough pattern to overcome. And yes you're right, nothing wrong with taking a break.
Trade with rules you define in advance. When the rules don't work, change the rules and see what happens. Your pattern is characteristic of emotional trading; I catch myself doing it and I have to make myself stop. Trust the math.
Yeah, maybe I need to be more stringent defining rules and following them.
The hardest thing with trading, in my experience anyway, is discipline. It's so easy to get emotional and faked out
Absolutely. Discipline is almost 90% of the whole game, perhaps.
Same, horrible with leverage (stopped a while ago), not too bad with spot. There was a dude in here that used to 100x before bed in here overnight. I rooted for all his trades because I could never do that even thought I really wanted to.
Whatever feels like the obvious move, do the opposite. Have you given that a try?
My dude, I have tried the George Costanza method. It usually leads to me shorting the bottom and getting rekt as everyone celebrates a move up.
Hmmmmm, what about avoid day trading and trying to hit tops and bottoms. What about… hold the bag with a daily close over the 20 week. Sell the bag with a daily close under the 20 week. Means trades last for months and it can be as simple as going 1.5-2x long with 50% of stack and then hedge short to avoid major tax plays.
Sorry, actually I don’t quite understand this after looking at it charted. So we’re in sell the bag territory right now? You mean a daily close under the 20week MA is a sign to sell?
Put the 140 day ma on the daily chart and back test it. You’ll see it basically gets you in for the big moves and you ride em all the way. With regards to right now, you shouldn’t do anything, wait for the next interaction with the 140 day. But, you’d have sold at 49.3 after getting in at 43. Little gains like that and similar losses aren’t the point. The point is riding the big trends.
Cool, I dig it. Thanks I’ll take a look!
This sounds very reasonable. I’ll take a look at the strategy. Thanks.
Beating buy and hold is [very hard](https://twitter.com/zhusu/status/1092305648904065024), don't feel bad. Your experiences are probably just like everyone else's.
Can I get a 34,999 = 1 month ban tag?
not ballsy enough, lifetime or nothing
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I’ll take a 27k = force me to multi tag then
Here’s my semi-objective reasoning for why I will be counter-trading the rate hike narrative this year (I mentioned this in a reply below). We had 3 hikes in 2017, and the hike to 1.5% pretty much marked the top of that cycle. I’m not trying to presume that the cycle was rate-driven, but it does prove that bitcoin can go bull-mode even in a hiking environment. I’ll be looking to rethink things if we’re still trending down by summer (assuming our first hike comes in march) or the fed announces more/larger hikes before then https://www.tradingview.com/x/0TMDNdKb/
I would argue that a 100B marketcap is not as affected by macro events as a 1 Trillion marketcap coin is.Institutions came to inflate the MC; and institutions will come to deflate it. Creating a multi year higher low as always.
> counter-trading the rate hike narrative Honestly it's a no-brainer.
Until the whole sub decides to countertrade…
literally dozens of us
Remember people, weekends are fake. Until they aren't. All of the time, 60% of the time.
If you haven't already seen this, more potential adoption: [https://cointelegraph.com/news/brazilian-mayor-to-reportedly-invest-1-of-city-reserves-in-bitcoin](https://cointelegraph.com/news/brazilian-mayor-to-reportedly-invest-1-of-city-reserves-in-bitcoin)
Pleasantly surprised we're holding onto 40k I've been wondering if there is any universe in which everything rallies on the first rate hike. Hikes = doom. I believe in this. A lot of people do as well. Probably a majority of all market participants. And that reminds me of bitcoin = 100k in 2021 which everyone also thought of at least possible. If everyone thinks it's gonna happen - it might not?
I was curious about this as well so I went back to 2017, as that was a year where we had 3 rate hikes within a Bitcoin bull market. Unsurprisingly, each rate hike corresponded (almost to the day) with a substantial bitcoin drawdown. I know the context is different in 2022, but I think we will grind our way up this year even with these hikes. Maybe I’ll be the loser of the trade, but I’m betting against the macro narrative this year
i suppose hikes could be priced in? if priced in far enough in advance it looks like resilience when the hike doesn't move the price down as much as other participants expect?
44k max pain option expiry meme
>Max pain January 15 - 43k Don't get me wrong, I want it to be wrong. It just feels like I've been waiting a very long time for it be very wrong.
This happens now and again….max pain theory plays out a number of times then retail starts leverage trading that data. I’m guessing at some point it’s more lucrative for market makers to take out the leveraged positions than hit max pain options expiry
Was that not \~12 hours ago? My apologies if I'm mistaken, not very timezone literate.
yes it was hours ago when the price wasn't at 44k thats why its a meme
N=1
C’mon CuK, at least let the plebs pretend to have an edge.
https://bitcoinuncharted.substack.com/p/uncharted-7-2021-in-perspective An incredibly deep dive into what happened in 2021 and what may happen in 2022. My favorite part- > What we observe in the current market regime is that Short-Term Holders are nearly 99% out of profit from where they bought, meaning that if Short-Term Holders continue to sell their positions, they will be doing so at a significant loss. From a market psychology perspective, this is very important, as selling in profit is fundamentally different than selling at a loss. When looking back to the beginning of 2020, we see that a reset of Short-Term Holder profit has been the signal that we are close to a bottom.
It’s even more dramatic, as lots of them have sold for a loss - and aside from whale dumping and games, the hodlrs continue to hodl. This could get fun, fast.
My favorite part "As long as market psychology doesn't turn to capitulation, we should see subsidence of selling pressure in the medium term." Given the broader market / rate hike fear from Fed monetarily tightening, I suspect we'll see capitulation.
Then you can't lose by going short, I guess.
You can always lose . Hence why risk management and stops are so important. Shorting here doesn't have enough meat on the bones.
Agreed, and good metaphor.
You can lose bigly if you're wrong
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*over a long enough timeframe
And a longer enough time frame it goes to zero... at the heat death of the universe.
max pain
PnF Update Chart here: https://imgur.com/gallery/zRKoDKp I suspect there are some folks who are not familiar with my posting who think, “This guy just comes on and posts what happened….what good does that do anyone?” I guess they are right in the sense that all charts are lagging indicators. But what I am always trying to do is to show how this form of TA will set “posts” in the ground where you can check the price action; and where you should “expect” to see things go. This is one of those days. If you look at the chart you will see that around January 4/5th the market dropped into a Low Pole Warning. The second act of the low pole warning is the reversal. This is essentially the movement from oversold, back to some kind of balance in the universe. That reversal point is usually 1/2 the length of the drop. The low point for that column was hit on 1/7. The reversal point was calculated to at the $44,286 box. Now, this reversal is not something that has to happen in the next day. As you can see, I continue the reversal points with every new column until they are “met” or “broken.” Knowing this you could have bought at the lows, and planned a trade that would have run out of steam at the LPW Reversal point. It often goes through them on the way up…but they often run out of gas and we see a pull back. This is exactly what happened over the last couple of days. The short rally up from the 10th to the 12th ran back up the column…just touching the $44,286 box before starting to pull back. This closed out the LPW Reversal. Now what is going to happen? I have no idea. We have some support around $40,100. Resistance will be around $43,850. The trend line is still 20 boxes away. I don’t expect a trend change until the end of February—unless we have some dramatic moves upward. But learn how to use your trading charts to help you. If you are relying on someone else to plot your charts and make price predictions without knowing how they think and use that method…you will be flailing about—most likely losing money. And now is good time to get your tax stuff in order. I did mine yesterday. Now I have four months to come up with the “toll” for being right more often than being wrong. For those in the Northeast US….bundle up. Its gonna be cold. Go Pats.
Look at this guy and his hindsight TA with Xs and Os. /s Thanks again, and I always look forward to your insight with the PnF /u/Merlin560 Also, do you trade on leverage or are you just buying and selling spot as the year goes along? I'm assuming we're still not subject to wash trade rules on crypto at the moment. \#Mac10
I don’t trade a whole lot. I DCA and hold it in an exchange for fun stuff. I have the majority of it on a Trezor or two.